TriCo Bancshares (NASDAQ:TCBK) Given Average Rating of “Hold” by Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $48.60.

A number of research firms recently commented on TCBK. Keefe, Bruyette & Woods raised their price objective on shares of TriCo Bancshares from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 target price (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $47.37 on Friday. The firm’s 50 day moving average is $47.04 and its two-hundred day moving average is $44.38. The firm has a market capitalization of $1.54 billion, a P/E ratio of 13.31 and a beta of 0.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 52 week low of $35.20 and a 52 week high of $50.60.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. The business had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.08 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.27%. Analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.0%. TriCo Bancshares’s dividend payout ratio is currently 40.45%.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently modified their holdings of TCBK. Federated Hermes Inc. lifted its position in shares of TriCo Bancshares by 17.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 290 shares during the period. Larson Financial Group LLC raised its stake in shares of TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares in the last quarter. Rafferty Asset Management LLC lifted its position in TriCo Bancshares by 3.2% in the third quarter. Rafferty Asset Management LLC now owns 17,106 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 525 shares during the period. Swiss National Bank boosted its stake in TriCo Bancshares by 1.2% during the third quarter. Swiss National Bank now owns 60,500 shares of the financial services provider’s stock worth $2,687,000 after buying an additional 700 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in TriCo Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock valued at $760,000 after buying an additional 820 shares during the period. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.